Question
9.If one person's consumption of a good does not preclude another's consumption, the good is said to be: A. nonrival in consumption. B. rival in
9.If one person's consumption of a good does not preclude another's consumption, the good is said to be:
A. nonrival in consumption.
B. rival in consumption.
C. nonexcludable.
D. excludable.
13.Suppose that Mick and Cher are the only two members of society and are willing to pay $20 and $17, respectively, for the third unit of a public good. Also, assume that the marginal cost of the third unit is $35. We can conclude that:
A. the third unit should not be produced.
B. the third unit should be produced.
C. zero units should be produced.
D. 4 units should be produced.
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